Cyprus offers several benefits for investors and companies looking to incorporate in the European Union. Since it provides a favorable tax regime, the professionalism and quantity of the service providers and the excellent communication system make it one of the most attractive locations for an offshore company. The country has restructured finance regulations and Company Law that conforms to EU regulations and since 2004 has been offering a new form of resident and non-resident-based companies that are fully compliant with EU financial policies.
To open an offshore or International Business Company (IBC) in Cyprus, a foreign company must comply with some conditions. There are no specific requirements for shareholders and directors of any nationality or residence. If anonymity is desired, it can be obtained by using nominee shareholders, which is great since it offers a great deal of anonymity. Our experts in company formation in Cyprus can open offshore companies for foreign and local business people.
Core Advantages of Opening an Offshore Company in Cyprus
Another use of the offshore company in Cyprus is that of a holding company. The offshore is perfect for foreign investors who want to open companies in Cyprus to acquire movable and/or immovable assets in other countries. Holding companies in Cyprus are subject to a special tax regime and benefit from various tax exemptions. Our company formation team can give you more details about this special tax regime and can help you open an offshore as a holding company. The procedure for setting it up is relatively simple, fast, and stress-free. Your presence is not necessary as we can do everything through fax, email, and courier.
Type of Business that Is Required for Opening an Offshore Company
Different types of business can open an offshore company in Cyprus – especially any High-Risk company that doesn’t want the business situated in a location where the Tax Office & Courts have secure access over the company and its owners as well as where the secrecy of the company nominees is compromised.
These kinds of businesses require some degree of anonymity and secrecy as to the details of the owners, as well as the location of the business to increase trust from their client (Cyprus is an EU country with good standing and zero trust issues). These companies also stand the chance of benefiting from the country’s favorable tax law if they have an offshore company registered in the country.
In conclusion, a Cyprus offshore company has these benefits: 100% foreign ownership, limited liability, favorable taxes, privacy, one shareholder to form the company, only one director required which can be the sole shareholder, low minimum share capital, foreign currencies permitted, EU membership, and English is its second official language.
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